Cost efficiency for offshore wind energy - A study aimed to decrease costs connected to the installation process in offshore wind

As global emissions of greenhouse gases affect the climate the European Union (EU) has concluded certain climate goals with the purpose to decrease emissions of greenhouse gases and increase the amount of renewable energy in Europe. Several member countries of the EU have made major investments in offshore wind. The largest share of electricity generated from offshore wind today is produced in the United Kingdom. However, to produce electricity from offshore wind is expensive which makes it difficult for the industry to compete with other energy sources. Among the reasons for high costs are the vast installation costs caused by the need of advanced equipment and work performed under difficult circumstances at sea. The purpose of the report is to examine what cost efficiencies can be performed during the installation phase of an offshore wind project within logistics, efficiency and technical solutions. The main questions for the report are whether different foundations for wind turbines have any impact on costs and what possible changes can be done to decrease the installation time at sea. The method used was grounded theory with qualitative data. The information was gathered thru both primary sources and secondary sources. The primary sources were based on two interviews and the secondary sources were collected thru literature studies gathered from scientifically reviewed sources. The authors conclude that cost efficiency during the installation phase is possible through more efficient logistics. For example, more assembling of components at port would mean less time for installation at sea which would significantly decrease costs. The current trend of increased size of windmills leads to offshore wind parks situated further out to sea, which creates a demand for new types of constructions of foundations. Floating foundations, which are currently under development could lead to decreased costs. A standardization of constructions could also decrease costs as well as increase the speed of installation. Furthermore, more clear policies from the governmental level indicating stable commitment would be beneficial for the industry. It could attract more investors, which would generate the funds needed to increase the speed of development leading to decreased costs within offshore wind